Duplex with Finished
For Sale
$1,199,990
Pending
253-02 Memphis Avenue, Rosedale, NY 11422
Each residence offers three bedrooms and one-and-a-half bathrooms, with solar panels serving the property.
Property Size2,066 SF
Days on Market9
Property Features for 253-02 Memphis Avenue
General Information
Standard status
Pending
Size
2,066 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,543
Amenities
finished basement
separate outside entrance
hardwood floors
solar panels
Finished,Full
Hardwood
5
Yes
6
First Floor Bedroom,First Floor Full Bath,Open Floorplan,Open Kitchen,Recessed Lighting
Finished, Full
Public
2
No
Detached, Driveway, Garage, Off Street, Private
2066
Building Details
Building Size
2,066 SF
Year Built
1940
Buildings
1
Construction
Hi-Ranch
Listing Agency:
RE/MAX Southshore Realty
(516) 703-2918
Listed By:
Noman Basit
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Southshore Realty
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Investment Insights
Based on property information with market context.
This detached duplex is arranged as a Hi-Ranch with two residences, each featuring three bedrooms and 1.5 bathrooms. The 2,066-square-foot property includes hardwood floors and a full finished basement with a separate exterior entrance. Solar panels are installed, and the buyer must assume the existing solar lease.
A detached two-car garage and driveway provide on-site vehicle accommodation. The property was built in 1940 and is described as newly renovated.
A detached two-car garage and driveway provide on-site vehicle accommodation. The property was built in 1940 and is described as newly renovated.
Key Highlights
- Two residences, each with 3 bedrooms and 1.5 bathrooms
- 2,066‑square‑foot detached Hi‑Ranch duplex
- Full finished basement with separate outside entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,502
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,010,040
$1.0M
Cap Rate 7%
$721,457
$721.5K
Cap Rate 9%
$561,133
$561.1K
Market Conditions
NOI Build-Up for 2,066 SF
Gross rent
$95.4K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$91.8K $44.44/SF
− OpEx
−$41.3K −$20.00/SF
NOI
$50.5K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,010,040
Cap Rate 7%
$721,457
Cap Rate 9%
$561,133
Alternative Uses
Best Use
Apartment 5plus
$721.5K
$631.3K – $841.7K
NOI $50,502 @ 7.0% cap · market cap 4.21%
Second Best
Multifamily LT 5
$488.5K
$427.5K – $569.9K
NOI $34,196 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,616 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
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Business Placement
Demographics for 11422, NY
32,839
Population
10,694
Households
3.1
Avg Household Size
41
Median Age
33%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
15,638
Density / Sq Mi
$108,519
Median Household Income
$51,788
Median Earnings
$2,327
Median Rent
$629,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers three bedrooms and one-and-a-half bathrooms, with solar panels serving the property.
Where is this duplex located?
The property is located at 253-02 Memphis Avenue Rosedale, NY.
What is the asking price?
The asking price for this property is $1,199,990.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1.5 bathrooms; 2,066‑square‑foot detached Hi‑Ranch duplex; Full finished basement with separate outside entrance
